petyaczar

Gold Bulls Should Stay Away from Gold Stocks

In 1970's when Nixon decoupled the U.S. Dollar from Gold. Turing the Dollar into a Political Fiat currency to pay for the Vietnam War.

1971 : 1 Oz of Gold = $35
2009 : 1 OZ of Gold = $900

SOOOOOOO the 2009 dollar is worth only 4%+/- of the 1971 Dollar as measured against the Gold Standard of 1 oz of Au.

This destruction of the U.S. Dollar has occured over my working lifetime.

In the Obamanation, just wait, going forward the U'S' Dollar will become truly worthless and we will wistfully dream of the days when a "dollar was a Dollar" and worth 4 cents when measured in 1971 dollars.

Watch for a "new currency" and a reverse split on old dallars of at least 1:10 and maybe 1:100 One NEW dollar = 10 old dollars, or one hundred old dollars. Watch for old dollars to be "called in" 6 months or so after NEW dollars are issued.

Watch for hyperinlfation. Borrow LONG and fixed. Buy and take possession of HARD assets such as the metals.

The Obamanation will mark the end of U.S. ascendancy and it will turn real ugly before it finally turns any better.

IMO